WATERPROOFING MEMBRANES MARKET ANALYSIS

Waterproofing Membranes Market Size and Trends

The waterproofing membranes market is estimated to be valued at USD 26.55 Bn in 2024 and is expected to reach USD 46.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.

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Rapid infrastructural development along with growth in residential and commercial construction spending across developed as well as developing nations is expected to drive the demand for waterproofing membranes globally over the forecast period. The global waterproofing membranes market is expected to witness robust growth owing to rising awareness about green building materials and growth in renovation and replacement activities. There is a rise in the demand for advanced and eco-friendly construction materials that are sustainable yet provide enhanced waterproofing protection. This has prompted manufacturers to introduce bio-based and self-healing waterproofing membranes. With sustainability becoming a priority, these green alternatives are expected to gain increasing preference compared to other conventional varieties. Furthermore, infrastructure projects in developing nations and repair & rehabilitation activities in developed markets will contribute significantly to the revenue generation of waterproofing membrane manufacturers globally in the coming years.

Increasing construction activities

With rapid urbanization taking place worldwide, the demand for residential, commercial, and industrial construction activities has seen significant rise over the past few years. Developing economies in Asian and African regions are witnessing huge investment in public infrastructure projects such as roads, bridges, dams, etc. to support the fast growing population and industrialization. Meanwhile developed nations of North America and Europe are expanding their existing construction capabilities with the renovation and retrofitting of old buildings.

This construction boom has created a huge demand for waterproofing membranes which are an integral part of maintaining the structural integrity of buildings. Whether its basement walls, terraces, wet areas or sloped roofs - protection from water ingress has become highly important considering various climatic conditions around the globe. This ensures the longevity of structures and prevents the occurrence of issues like dampness, leakages, and cracks at later stages. Various advanced membrane technologies like hot fluid applied, cold liquid applied, premixed, and fully bonded sheet membranes are being extensively used today to protect all critical areas that are susceptible to water accumulation and moisture damage.

Stringent building codes and regulations

With growing awareness about the importance of dry construction and preventing long term issues, government authorities across countries have been formulating more stringent laws and norms regarding the waterproofing of buildings. Compliance to these codes and standards is now mandatory for obtaining necessary construction approvals and certificates. Various certification schemes like LEED also encourage use of efficient waterproofing systems for projects to get rated. This has pushed builders and contractors to give due consideration to the proper design and application of waterproofing membranes as per industry best practices and manufacturer guidelines. Third party inspection and testing is also being done regularly to ensure compliance.

Commercial and residential projects especially in wet or coastal regions have to undergo rigorous eligibility process to get necessary clearances. Simply using cheaper or substandard membranes is not acceptable anymore. Proper proof of designing, material quality, and application methodology is required. This ensures the long term performance of the membrane installed. While increasing compliance burden for contractors initially, it will help create a safe and quality built environment in the future. Overall this is proving beneficial for established waterproofing membrane brands that offer comprehensive product and application guidelines. Customers are now preferring reputed suppliers with proven track record for critical waterproofing projects.